According to the Colorado Real Estate Journal and the Denver Real Estate Watch, The Promenade at Castle Rock will be one of the nation’s largest shopping areas. This new community center will feature a variety of restaurants, retailers, grocery stores, and entertainment venues. Mayor Paul Donahue hopes this development will offer “new amenities for residents” and entice visitors to come to “our terrific town”.
The land is privately owned by Alberta Development Partners, a real estate and investment firm that’s based in Colorado. Alberta has zoned 166 acres (in total) for development around I-25 and Highway 85. The Town benefits from this new shopping center because they receive 27.5% of the sales tax revenue, and they are paid a development fee from Alberta. Now, about 130 acres are zoned for commercial development, 17 acres are zoned for 350 multi-family housing units, and 19 acres will be designated open space.
The Promenade will have four distinct districts. The first will be The Front Porch. This is the gateway project and will include community dining and a fire lounge. It will portray a “farmer’s market” feeling. The Merc is the second district, and it will have have pop-up cafes, a pop-up retail amphitheater, garden planters, and an outdoor theater. Next is The Town Square, which will be the center of the development area. It will look like a grand plaza, with trees, a hearth, water features, and gardens. Finally, there will be The Village, which will feature different restaurants, covered lounging, and dining areas. This district will also include wishing well fountains and wagon wheel banquettes.
A few of the restaurants in The Promenade have already opened in November 2015, including Tokyo Joe’s, Kneader’s Bakery and Cafe, and Cafe Rio. Other restaurants, like Smashburger, Mad Greens, Jersey Mike’s Subs, and Mod Pizza are planning to open soon. There are also different retail stores in the works, including AT&T, Sports Authority, TJ Maxx/Homegoods, Bar Nails & Spa, Ulta Beauty, Elements Massage, and Berry Blendz. Businesses will move into The Promenade between late 2015 and 2018.
Though it is still a work in progress, The Promenade is an exciting new development in Castle Rock. We encourage you to check out some of the new restaurants and retailers in the area.
For more information about The Promenade, visit these sites: